Exchange/Sale is an authority provided by 40 U.S. Code § 503. It allows agencies, when acquiring replacement property, to exchange or sell non-excess, non-surplus personal property and apply the exchange allowance or sales proceeds towards the acquisition of similar personal property. Using the exchange/sale authority reduces the cost of replacement personal property.
Agencies should consider using the exchange/sale authority before considering other disposal options. Proceeds or exchange allowances must be used to purchase similar items. Agencies should not use the exchange/sale authority if the exchange allowance or estimated sales proceeds for the personal property will be unreasonably low.
Restrictions and prohibitions to using the exchange/sale authority can be found 41 CFR Part 102-39. Information on requesting deviations to those regulations can be found on the Exchange/Sale Deviations Requests page. Guidance on the financial accounting for exchange/sale items may be found in FMR Bulletin B-48. Reimbursement money from Exchange/Sale is available to the agency during the fiscal year the item was sold and for one fiscal year thereafter. Unused monies must be deposited in the U.S. Treasury as miscellaneous receipts.
U.S. General Services Administration